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Monday, May 25, 2009

Loan Payment Request

I just sent in an additional loan payment request to the bank for $110. In two business days they should approve it and put it towards my loan. I am a little confused as to why you would need to request to make an extra payment and why they need to approve this. I can't see the bank not approving this request or any reason why they wouldn't approve. I guess maybe because the quicker something is paid off, the less interest they make...

But anyway, my plan is to pay an extra $100 this month, and June. And then with my "extra" pay cheque in July to pay the darned thing right off.

In other news, A and I met with the bank on Saturday to see about pre-approvals for mortgages. Things look good and we are going to start looking and seeing if we can find anything. my dad is going to help with the down payment and I can start building my equity rather than contributing to the landlord's.

1 comment:

Buying a house has been the best decision I have made this year! I know that it causes other areas of your life to be pretty tight, but it is worth it. To have someplace to call your own and to build credit and equity is great! Good luck at the bank....